Greece Income Tax Rate – Alternative Tax Resident Regimes

Por: Dimitrios Leventakis & Anastasia Moschovaki
e-mail: dimitrios.leventakis@ecovis.gr – moschovaki.anastasia@ecovis.gr

Greece has modernised its tax residence rules for high-net-worth individuals. Internationally experienced self-employed and employees who return to Greece should be able to plan their tax costs better.

The following new alternative tax resident regimes apply from 1 January 2021.

1. High-Net-Worth Individuals (Investors)

The conditions for high-net-worth individuals and investors are regulated in the provisions of Art. 5A of Law 4172/2013. Among other things, they include:

That individuals have not been taxable in Greece for seven of the last eight years before moving.
That they, or their relatives, have made an investment of at least EUR 500,000.

The rules of the Greek alternative tax resident regimes mean that internationally experienced returnees should be able to better assess their tax burden.
Dimitrios Leventakis, Managing Director, ECOVIS HELLAS L.T.D., Athens, Greece

2. Self-Employed and Employees

The regulations for employees are summarised in Art. 5C of Law 4172/2013. They can benefit if they earn income from salaried employment. Other conditions include also for self-employed:

That the individuals have not been taxable in Greece for five of the last six years prior to the move.
That the individuals are from an EU or EEA Member State with which Greece has a tax administrative cooperation agreement.